With Canada's top marginal tax rates described by some analysts as "punitively high," and with the Canadian economy sliding to an annualized rate of growth of only 0.4 per cent in the fourth quarter, many were hoping for tax reductions in Budget 2019 that would help make Canada more competitive.

The Federal Court of Appeal's ruling in Vine Estate v. Canada reminds taxpayers of the importance of filing their original tax return correctly and applying the appropriate degree of care in the process.